The Board of Directors of Chimera Investment Corporation (NYSE: CIM)
declared the first quarter 2013 common stock cash dividend of $0.09 per
common share. This dividend is payable April 25, 2013, to common
shareholders of record on April 1, 2013. The ex-dividend date is March
27, 2013.

As previously announced, the Company initiated a regular quarterly
dividend of $0.09 per share for the third and fourth quarters of 2012
dividend and for the first and second quarters of 2013. The Board of
Directors will review this program after the conclusion of the second
quarter of 2013. Portions of the first quarter 2013 distribution may be
ordinary income, capital gains or a return of capital.

The Company also announced today that it has estimated that as of
December 31, 2012, its GAAP book value was $3.42 per share and its
economic book value was $3.04 per share, compared to its estimated
September 30, 2012, GAAP book value of $3.31 per share and economic book
value of $2.95 per share.

Estimated economic book value considers the fair values of only the
assets the Company owns or is able to dispose of, pledge, or otherwise
monetize, and specifically excludes assets consolidated for GAAP but
which the Company cannot dispose of, pledge or otherwise monetize. The
Company's estimate of economic book value has important limitations.
Should the Company sell the assets in its portfolio, it may realize
materially different proceeds from the sale than estimated as of the
reporting date.

The Company continues to work diligently to complete the ongoing work on
becoming current on all of its filings required under applicable
securities laws. The Company expects to file its Quarterly Report on
Form 10-Q for the quarterly period ending March 31, 2012 by May 7, 2013,
and all subsequent unfiled Quarterly Reports on Form 10-Q and the 2012
Annual Report on Form 10-K will be filed as soon as practicable.

Chimera Investment Corporation invests in residential mortgage loans,
residential mortgage-backed securities, real estate-related securities
and various other asset classes. The Company’s principal business
objective is to generate income from the spread between yields on its
investments and its cost of borrowing and hedging activities. The
Company is a Maryland corporation that has elected to be taxed as a real
estate investment trust (“REIT”).

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on the current beliefs and expectations of the
Company’s management and are subject to significant risks, uncertainties
and other factors, including the impact of the transition to a new
independent registered public accounting firm and the Company’s ability
to timely complete the process necessary to file its quarterly and
annual reports for the quarters and year subsequent to December 31,
2011. The Company does not undertake, and specifically disclaims all
obligation, to publicly release the result of any revisions which may be
made to any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of
such statements, see “Item 1A — Risk Factors” in our Annual Report on
Form 10-K for the year ended December 31, 2011.